Pinterest's stock fell after reporting adjusted earnings of 33 cents per share, which was below the anticipated 35 cents. However, sales increased by 17% to $998 million, surpassing estimates. The company guided for Q3 sales of $1.04 billion, slightly above analyst projections. Monthly active users grew by 11% to 578 million, exceeding analyst expectations. The CEO expressed confidence in Pinterest's evolving strategy as a shopping destination and performance platform, although the stock has experienced a decline after mixed performance results this year.
Pinterest earned an adjusted 33 cents per share for the June-ended quarter, up 37.5% compared to the same period a year earlier, but short of the forecasted 35 cents.
Sales increased 17% to $998 million, beating analyst estimates of $975 million, indicating strong revenue performance despite mixed overall results.
Total monthly active users for Pinterest's digital pinboard platform grew 11% to 578 million, surpassing analyst estimates of 574.5 million and demonstrating user engagement growth.
Pinterest's CEO stated confidence in the company's product market fit, emphasizing its transformation into a personalized shopping destination for users and an AI-powered platform for advertisers.
Collection
[
|
...
]